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Chapter 1 Business Analytics questions with actual answers,
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Chapter 1 Business Analytics questions with actual answers,
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Chapter 1 Business Analytics questionswith actual answers,
business analytics ANS - use of data, information technology, statistical analysis, quantitative method,
and mathematical or computer based operations and make better, fact based decisions
business intelligence ANS - collection, management, analysis, and reporting of data
information systems ANS - modern discipline evolved from business intelligence
statistics ANS - science of uncertainty and the technology of extracting information from data; an
important element of business, driven to a large extent by the massive growth
operations research/management science ANS - analysis and solution of complex decision problems
using mathematical or computer-based models
modeling and optimization ANS - techniques for translating real problems into mathematics,
spreadsheets, or other computer languages, and using them to find the best "optimal" solutions and
decisions
decision support systems ANS - combo of business intelligence concepts and or/ms models to create
analytical-based computer systems to support decision making
data mining ANS - focused on understanding characteristics and patterns among variables in large
databases using a variety of statistical and analytical tools
simulation and risk analysis ANS - methodology that relies on spreadsheet models and statistical
analysis to examine the impact of uncertainty in the estimates and their potential interaction with one
another on the output variable of interest
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